Bixin Pool CEO Jiang Zhuoer has repurchased Ethereum at $1,645 after previously selling around 50% of his holdings at an average price of $2,331. Zhuoer expressed a belief in a downtrend for Ethereum but anticipates a short-term rebound within the next one to three days. Following this expected bounce, Zhuoer plans to sell again, viewing the current market conditions as an opportunity for short-term tactical maneuvers rather than a long-term investment strategy. This activity comes amid broader market volatility influenced by geopolitical tensions, particularly between the U.S. and Iran, which have impacted cryptocurrency sentiment.
The market for Ethereum reaching $2,500 between June 1 and June 7 reflects a low probability, with current pricing at only 11.4% YES in one active sub-market. Zhuoer’s actions, suggesting a continued downtrend, may contribute to this sentiment. However, the market indicating Ethereum’s price being between $1,600 and $1,700 on June 5 shows a stronger likelihood, with a 63.9% YES probability, aligning with Zhuoer’s expectations of a short-term rebound.
Meanwhile, Bitcoin’s price, which Zhuoer views as having support at $61,000, has not been a focal point of this particular market activity, as the news primarily pertains to Ethereum’s price movements and projections.
